The Agreement Includes the Purchase of 16 Robotic
Vending Kiosks Upfront with Commitments to Buy an Additional 59
Units
SAN DIEGO, CA, Sept. 20, 2018 -- InvestorsHub NewsWire
-- Generation NEXT Franchise Brands, Inc. (OTCQB: VEND)
announced today that its flagship subsidiary, Reis & Irvy’s,
has signed an exclusive agreement with master franchise rights for
the robot-staffed frozen yogurt and ice cream chain in Knoxville,
TN, the state’s third largest city after Nashville and Memphis.
Knoxville
The $3.2 million exclusive territory deal includes contracts for
16 initial Reis & Irvy’s locations along with an agreement for
an additional 59 locations (75 total) throughout the area as part
of an agreement that secures the group’s exclusive rights to
Knoxville.
Knoxville is the home of the flagship campus of
the University of Tennessee, whose sports teams are extremely
popular in the surrounding area. Knoxville is also home to the
headquarters of the Tennessee Valley Authority,
the Tennessee Supreme Court's courthouse for East
Tennessee and the corporate headquarters of several national
and regional companies. As one of the largest cities in
the Appalachian region, Knoxville has positioned itself
in recent years as a repository of Appalachian culture and is one
of the gateways to the Great Smoky Mountains National
Park.
Nima Kioumarsi, the Knoxville exclusive franchisee, was
originally attracted to the simplicity of the Reis & Irvy’s
business model: “I was sold on the idea of unattended retail and
semi-passive income. Reis & Irvy’s innovative franchise concept
provides this kind of flexibility, and I am looking forward to a
long and prosperous relationship. I’m very proud to bring
this to the friendly people of East Tennessee!”
“We couldn’t be more honored to work with the ever-growing
number of both multi-unit and exclusive territory Reis & Irvy’s
franchisees across the United States that are helping to grow the
Reis & Irvy’s brand while launching their own hometown
businesses. Their vision and enthusiasm to bring this unique
experience to their markets –each in their own way– along with
their dedication to their communities and future customers, is an
inspiration for everyone at Generation Next and Reis & Irvy’s,”
said Nick Yates, Chairman of Generation Next Franchise Brands.
“Nima, in particular, exemplifies these characteristics.
“More units are being delivered each day to eager franchisees
and locations across the U.S. – and after a long period of
development, beta testing and subsequent improvement, we’re pleased
to say that the reviews are finally coming in from franchisees and
customers alike – and they’re telling us we got it right.
Combined with our ever-expanding access to the choicest
locations, refined technology, and premium products, suffice it to
say we’re excited about the potential that each of the units we’re
installing every day represents for our franchisees and our
company,” Yates added.
Reis & Irvy’s: Franchise Expansion
Highlights:
Since its debut, Reis & Irvy’s has grown to over 280
franchisees across the U.S. and represents over 1,400 pending robot
installations aggregating approximately $60 million, with
additional contract commitments for over 3,200 robots worth an
estimated $129 million ($189 million in total) in potential future
revenues for Generation NEXT Franchise Brands, Inc. One of the
company’s more high-profile franchisees, PGA Championship golfer
Phil Mickelson, announced an interest in the company, signing a
contract in June to deploy 30 Reis & Irvy’s locations in
Southern California.
With $189 million in franchise and licensing contracts,
Generation NEXT Franchise Brands, Inc. (OTCQB: VEND) is leading the
way with frozen desserts, fully autonomous robotic delivery, visual
and audio entertainment, and a unique retail experience. The robots
also accept cash, credit cards, Apple Pay and Google Wallet, and
the company is working on accepting cryptocurrencies such as
Bitcoin for payment in the near future.
An Industry Disruptor
Generation Next Franchise Brands, Inc. (OTCQB: VEND) is the
developer of the world's first fully-automated robotic frozen
dessert vending kiosk designed to disrupt brick-and-mortar
competitors. Reis & Irvy’s unattended robots eliminate the need
for costly rents and employees; significantly reduce food safety
concerns; and are capable of operating 24-hours a day.
Reis & Irvy’s-branded signature robot characters of the same
name can dispense servings of frozen yogurt, ice cream, gelato and
sorbet topped with a selection of six delicious toppings in under
60 seconds. With self-checkout touch screen ordering and payment
options, video animation, music and delicious frozen dessert
provided exclusively by Dannon, robot vendors meet consumers’
demand for immediate convenience, entertainment and a superior
quality product - be it in shopping malls, medical centers and any
other high-traffic area.
For more information, visit the Reis & Irvy’s website
at www.reisandirvys.com or call Toll-Free (888)
902-7558.
Generation NEXT Website: www.gennextbrands.com
About Generation NEXT Franchise Brands,
Inc.
Generation NEXT Franchise Brands, Inc., based in San Diego,
California, is a publicly traded company on the OTC Markets trading
under the symbol OTCBB:VEND. Generation NEXT Franchise Brands, Inc.
is parent company to Reis and Irvy's Inc and Generation NEXT
Vending Robots.
About Reis & Irvy’s, Inc.
Reis & Irvy’s, Inc. is a subsidiary franchise concept of
Generation NEXT Franchise Brands, Inc. (VEND). Launched in early
2016, the revolutionary Reis & Irvy’s Vending Robot serves
seven different flavors of frozen yogurt, ice cream, sorbets and
gelatos, a choice of up to six custom toppings and to customers
within 60 seconds or less at the point of sale. The unique
franchise opportunity has since established itself as a high-demand
product and currently showcases a franchise network both
domestically as well as internationally.
This information is not intended as an offer to sell, or the
solicitation of an offer to buy, a franchise. It is for information
purposes only. No Reis & Irvy's franchises will be sold to any
resident of any state until the offering has been exempted from the
requirements of, or duly registered in and declared effective by,
such state and the required FDD (if any) has been delivered to the
prospective franchisee before the sale in compliance with
applicable law. Currently, the following states in the United
States regulate the offer and sale of franchises: California,
Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York,
North Dakota, Oregon, Rhode Island, South Dakota, Virginia,
Washington, and Wisconsin. If you reside in one of these states, or
even if you reside elsewhere, you may have certain rights under
applicable franchise laws or regulations.
Cautionary note on forward-looking statements
This press release contains "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Forward-looking statements include, among others,
statements concerning our future financial performance, including
statements regarding: our ability to generate revenue and recognize
deferred revenue; our ability to timely launch delivery and
installation of our frozen yogurt robots; and our ability to grow
our franchising and licensing divisions and launch our
corporate-owned and direct sales platforms. The Company bases these
forward-looking statements on its current expectations, estimates
and projections about future events and the industry in which it
operates using information currently available to it. Actual
results could differ materially from those discussed in, or implied
by, these forward-looking statements. Forward-looking statements
are identified by words such as "believe," "anticipate," "propose,"
"expect," "intend," "plan," "will," "may," "estimates," variations
of such words and other similar expressions. In addition, any
statements that refer to expectations, projections or other
characterizations of future events or circumstances are
forward-looking statements. Factors that could cause actual results
to differ from those implied by the forward-looking statements
contained in this press release are set forth in our filings with
the Securities and Exchange Commission (SEC), including our most
recent Annual Report on Form 10-K for the year ended June 30, 2017,
our Quarterly Reports, and our Current Reports on Form 8-K. Be
advised that developments subsequent to this press release are
likely to cause these statements to become outdated and the Company
is under no obligation (and expressly disclaims any such
obligation) to update or revise any forward-looking statements
whether as a result of new information, future events, or
otherwise.
Media Contact:Darren ShusterGeneration NEXT Franchise Brands, Inc.Phone: (818) 744-1851
Email: darren@popculturepr.com